Learn how to address issues arising as a result of the tension between the goal of the federal bankruptcy laws to give debtors a financial "fresh start" and the applicable federal income tax laws.
CHICAGO (PRWEB) April 04, 2018
Bankruptcy law is generally a federal-based practice, and governed by Title 11 of the United States Code (the Bankruptcy Code). Bankruptcy law, however, is far from an insular practice; there is substantial interplay between bankruptcy law and almost every other area of law due to the myriad legal issues that arise during the course of a bankruptcy case. This Financial Poise BANKRUPTCY INTERSECTIONS 2018 webinar series focuses on how issues involving intellectual property, employment and labor, tax law, and environmental law are treated through the prism of bankruptcy.
The third episode of the series, The Intersection of Bankruptcy and...Tax Law, airs on April 9th at 2:00 PM CST (Register Here) and features Moderator Jonathan Friedland of Sugar Felsenthal Grais & Helsinger. He is joined by Shelley Kinsella of Elliott Greenleaf and David Agler of Crowe Horwath LLP to discuss the tax laws that must be considered in the context of a bankruptcy.
The issues created by the intersection of bankruptcy law and tax law are complex and marked by the tension between the fundamental goal of the federal bankruptcy laws is to give debtors a financial "fresh start" from burdensome debts and the applicable federal income tax laws. As a result, certain tax liabilities are not dischargeable in bankruptcy. Moreover, a debtor generally continues to be subject to applicable federal income tax laws and must timely file federal income tax returns and pay federal income tax.
This webinar examines the tax responsibilities of a debtor, as well as the types of tax claims and what requirements must be met for a taxing authority to have a secured, priority, or administrative claim in a bankruptcy case. This webinar also explores how taxable income becomes part of the debtor’s estate during the pendency of the bankruptcy proceeding, and how that income is taxed.
The treatment of tax attribute carryovers, alternative minimum tax considerations, and cancellation of debt income are also addressed with respect to the debtor’s potential tax liability. These tax issues can also be important factors during a debtor’s sale of assets pursuant to section 363 of the Bankruptcy Code.
The BANKRUPTCY INTERSECTIONS 2018 Series is produced by Financial Poise™. The final episode in the series is “The Intersection of Bankruptcy and…Environmental Law,” airing on May 7th at 2:00 PM CST. All episodes will be available live through West LegalEdCenter and then on-demand following the live premiere.
As with every Financial Poise Webinar, each episode is delivered in Plain English understandable to investors, business owners, and executives without much background in these areas, yet is also valuable to attorneys, accountants, and other seasoned professionals. And, as with every Financial Poise Webinar, each episode brings you into engaging, sometimes humorous, conversations designed to entertain as it teaches. Each episode in the series is designed to be viewed independently of the other episodes, so that participants will enhance their knowledge of this area whether they attend one, some, or all episodes.
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